Sole Proprietorship Malaysia Tax

Sole proprietorships and partnerships are the easiest forms of business to be registered hence the most popular forms of business.

Sole proprietorship malaysia tax. For many small scale online businesses in malaysia sole proprietorship single owner or partnership more than one owner is enough and the cheapest option. Sole proprietorship partnership vs. Corporate income tax in malaysia is applicable to both resident and non resident companies.

A sole trader is represented by the natural person who will carry business operations in his or her own name. Sole proprietorships in malaysia are charged the income tax on a gradual scale applied to individual income from 2 to 26. Register a sole proprietorship in malaysia a sole proprietorship must be registered with the companies commission malaysia the main institution where companies file for registration.

Depending on your nature of business you can register as sole proprietorship partnership limited liability partnership or company. While registered companies are subject to corporate tax other types of businesses such as sole proprietorships and partnerships are also liable to income tax. Annual auditing is less complex and doesn t require separate company secretary.

Tax rate for sole proprietorship or partnerships. Sole proprietorship malaysia comes with enticing policies where the owner of the company doesn t need to corporate tax.